Resolution 5480 - Clarifies Tax Increment Financing Guidelines - SID DebtA RESOLUTION CLARIFYING THE GUIDELINES OF THE CITY OF KALISPELL
REGARDING THE UTILIZATION OF TAX INCREMENT FINANCING WITHIN TAX
INCREMENT DISTRICTS THAT HAVE PUBLIC IMPROVEMENTS FINANCED THROUGH
SPECIAL IMPROVEMENT DISTRICT DEBT.
WHEREAS, the City of Kalispell has established a number of tax increment districts pursuant to its
authority and the terms of state law; and
WHEREAS, the City of Kalispell has also established, pursuant to its authority and the terms of state
law, a number of special improvement districts for the purpose of funding certain public
improvements; and
WHEREAS, a special improvement district on which public improvements were constructed and
financed through city debt, secured by and assessed to the properties directly benefitted
by such public improvements may also be within a tax increment district; and
WHEREAS, the existing tax increment distribution guidelines established by the Council at Resolution
No. 4609 and Resolution No. 5262 specifically enumerate the statutorily permissible uses
of tax increment that includes the use of such funds for public improvements and
establishes the eligibility of businesses that locate or expand within the city that are of a
manufacturing, technological, office, professional or technical service nature to receive
increment benefits in an industrial or technology tax increment district; and
WHEREAS, the Kalispell City Council hereby finds that in instances in which the City establishes a
special improvement district and issues bonds for public improvements and also
establishes a tax increment district over the same area, it is appropriate that tax increment
benefits be considered for otherwise eligible businesses electing to locate and make
private investment within the districts for the purposes of paying the special improvement
district assessments of that district.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF KALISPELL
AS FOLLOWS:
SECTION I. That the tax increment distribution guidelines for the City of Kalispell shall
include the allowable use of tax increment to be the payment of special
improvement district assessments on property owned within such special
improvement district and within such tax increment district for the benefit of a
property owner of an eligible business electing to locate and make private
investment within the districts.
PASSED AND APPROVED BY THE CITY COUNCIL AND SIGNED BY THE MAYOR OF THE
CITY OF KALISPELL, THIS 7TH DAY OF FEBRUARY, 2011.
Tammi Fisher
ATTEST: Mayor
l
Theresa White
City Clerk